The most important and crucial factor regarding time is that it is inelastic and non-renewable. An event cannot take place unless there is a time for it. Time and tide wait for none. We may keep in mind that time is neutral that is it is neither good nor bad itself. Therefore to blame the time for any inaptitude or failure will be unfair to time itself. Hence for making the time good and fruitful, comes the concept of "Time Management".
The statement that "Time is money" itself indicates the significance of time management. Though most people in government, public enterprises and private sector understand the implications of time management, but in actual practice, we find that time is wasted and its importance is undermined. Most of the executives in administration complain that they are too busy but still they let lot of their time away in unnecessary activities. Time is thought of as a resource. All other resources can be increased whenever required but not time and therefore, we must make the best use of time. To support this an example is illustrated as: many studies conducted revealed that persons in administration hardly devote 30 to 40 percent of their time for the activities they have been engaged for. …
